Waterbury evening Democrat., 1887-12-07
TAXES MUST BE REDUCED.
President Cleveland Urges Immediate
 Action on the Part of Congress
He Strongly Advises Revision of the Existing Tariff Laws, and Declares That Unless Measures Are Taken to Reduce the Surplus, the People Must Suffer. 7 He Appeals to the Manufacturers to Exert Themselves in Favor of a Tariff Reduction.
 We give an extension of the telegraphic summary in the DEMOCRAT yesterday some of the salient points of the Presidents message to Congress.

message to congress.
 SURPLUS REVENUES.
 While the expedients thus employed to re- lease to the people the money lying idle in the treasury served to avert immediate danger, our surplus revenues have continued to accumulate, the excess for the present year amounting on the 1st day of December to $55, ,25S, 701.19 and estimated to reach the sum of SIS, 900, GOO on the 30th of June next, at which date it is expected that this sum, added to prior accumulations, will swell the surplus in the treasury to s14O, 100000.
 There seems to be no assurance that, with such a withdrawal from use of the peoples circulating medium, our business community may not in the near future be subjected to the same distress which was quite lately produced from the same cause. And while the func- tions of our national treasury should be few and simple, and while it's best condition would be reached, believe, by its entire disconnection with private business interests, yet when, by perversion of its purposes, it idly Eo.ds money uselessly subtracted from the channels of trade, there seems to be reason for the claim that some legitimate means should be devised by the government to restore in an emergency, without waste or extravagance, such money to its place among the people.
 NO EXECUTIVE POWER OF RELIEF.
 If such an emergency arises there now ex- ists no clear and undoubted executive power of relief. Heretofore the redemption of per cent. bonds, which were payable at the option of the governmt nt, has afforded a means for the disbursement of the excess of our revenues; but these bonds have all been m tStQ inc the payment of which we have the right to insist upon. The contribution to the sinking fund which furnishes the occasion for ex- penditure in the purchase of bonds has been already made for the current year, so that there is no outlet in that direction.
 In the resent state of legislation the only pretens If any existing executive power to
 THE QUESTION OF PURCHASING BONDS.
 In considering the question of purchasing bonds as means of restoring to circulation the surplus money accommodating in the treas Mry, it should be borne in mind that pre- miums must of course be paid upon such purchase, that there may be @ large part of these bonds held as investments which can not be purchased at any price, and that con- binations among holders who are willing to sell may unreasonably enhance the cost of such bonds to the government
 
 bonded debt might be refunded at a less rate of interest, and the difference between the old and new security paid in cash, thus find- ing use for the surplus in the treasury. The success of this plan, it is apparent, must de- pend upon the volition of the holders of the present bonds; and it is not entirely certain that the inducement which must be offered them would result in more financial benefit to the government than the purchase of bonds, while the latter proposition would re- duce the principal of the debt by actual pay ment, instead of extending it.
 DEPosIT1Na MONEY IN BANKS AN OBJECTION.
 The proposition to deposit the money held by the government in banks throughout the country, for use by the people, is, it seems to me, exceedingly objectionable in principle, as establishing too close relationship be- tween the operations of the government treasury and the business of the country, and too extensive O commingling of their money, thus fostering an unnatural reliance in pri- vate business upon public funds. If this scheme should be adopted it should only be done as temporary expedient to meet an urgent necessity. Legislative and executive effort should generally be in the opposite d- rection, and should have a tendency to di- vorce, as much and as fast as can safely be done, the treasury department from private enterprise. .sr.- -s.-
 Of course it is not expected that unneces- sary and extravagant appropriations will be made for the purpose of avoiding the accu- mutation of an excess of revenue. Such ex- penditure, beside the demoralization of all just conceptions of pnblic duty which it en- tails, stimulates habit of reckless improvi- dence not in the least consistent with the mission of our people or the high and benef- cent purposes of our government.
 TARIFF LAWS SHOULD AMENDED.
 But our present tariff laws, the vicious, in equitable and illogical source of unnecessary taxation, ought to be at once revised an6 amended. These laws, as their primary ano plain effect, raise the price to consumers o1 all articles imported and subject to duty, bJ precisely the sum paid for such duties. Thus the amount of the duty measures the taz paid by those who purchase for use these i'm ported articles Many of these things, how ever, are raised or manufactured i'll our owr country, and the duties now levied upor foreign goods and products are called pro lection to these home manufactures, beca us they render it possible for those of our peo ple who are manufacturers to make thes taxed articles and sell them for price equa to that demanded for the imported good that have paid customs duty. So happen that while comparatively few uss the i'm ported articles millions of our people wh, never use and never saw any of the foreig, products purchase and use things of the sam kind made in this country and pay therefo nearly or quite the same enhanced pric which the duty adds to the imported articles Those who buy imports pay the duty charget thereon into the public treasury, but tn great majority of our citizens who buy do mestic articles of the same class pay sun at least approximately equal to this duty t. the home manufacturer. This reference l. the operation of our tariff laws is not mad by way of instruction, but in order thatjw may be constantly reminded of the manne in which they impose a burden upon thos who consume domestic products as well a those who consume imported articles an thus ctsate tax upon all our people.